Bank duo call dollar AT1s in face of pandemic

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By David Freitas
19 Mar 2020

ING and Skandinaviska Enskilda Banken (SEB) said this week they would redeem dollar-denominated additional tier one (AT1) bonds at their first call dates, despite the economic and market implications of Covid-19.

SEB’s $1.1bn AT1 carries a coupon of 5.75% and a first call date of May 13 and ING’s $1bn AT1 a 6% coupon, with its first call date on April 16.

“SEB is well capitalised and we have a long-term focus with respect to our funding,” an ...

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